MUMBAI: After Mother Dairy and Amul, Milky Mist Dairy Foods Ltd has lowered product prices to relay the benefits of the recent reduction in GST rates to consumers. The company said it is simultaneously increasing milk procurement prices to support farmers.
Over 300 product categories including paneer, cheese, butter, ghee, condensed milk, ice cream, and chocolates are now available at reduced MRP following the GST revision.
The dairy's cooking butter (100 gm) price has decreased from Rs 75 to Rs 72. Its cheese block (200 gm) has dropped from Rs 140 to Rs 132. Cheese cubes (200 gm) now cost Rs 142 as compared to Rs 150 earlier while cheese slices (200 gm) have reduced from Rs 149 to Rs 140.
The company's 1 litre pet jar of ghee has decreased from Rs 899 to Rs 845. Its paneer (200 gm) now costs Rs 125 from the earlier Rs 128.
At the same time, Milky Mist has increased milk procurement prices by up to 3.5% from Sept 1 and further by another 3.5% after the GST revision, "ensuring that farmers directly benefit from market reforms and sustainable livelihoods are strengthened."
The company said in a press release Tuesday, "Milky Mist's revision in pricing is designed to reflect the efficiency gains from GST rate revisions. While the benefit is passed on to consumers in most categories, certain products like paneer have input material cost implications. With the GST rate revisions, a portion of the benefit (approximately 1–2%) is absorbed by the company to maintain product availability and quality."
"We are focused on our farmers and consumers. By passing on the GST benefits and increasing procurement prices, we are ensuring equilibrium in the dairy ecosystem. This initiative is a step forward in creating trust, and long-term partnerships," said K Rathnam, CEO.
Start a Conversation
Post comment